Banks told to stabilise interest as deposit rates climb

Banks told to stabilise interest as deposit rates climb

Under the document, the SBV requested credit institutions, branches of foreign banks and regional SBV offices to implement measures to maintain stable market interest rates.

The directive was issued in Official Dispatch No. 2342/NHNN-CSTT, which outlines measures aimed at stabilising lending and deposit rates amid the recent upward trend in bank deposit interest rates. VGP Photo

The State Bank of Vietnam (SBV) has instructed commercial banks to balance their funding sources and ensure liquidity, warning lenders not to disrupt overall market interest rates as deposit rates have recently risen sharply.

Commercial banks are required to strictly follow the Governor’s Directive No. 01/CT-NHNN on implementing key banking sector tasks in 2026. The directive aims to help maintain macroeconomic stability, control inflation, support sustainable economic growth and ensure the safety of the banking system.

Banks were asked to step up measures to stabilise interest rates in line with Government instructions.

Lenders must continue to publicly disclose their average lending rates, the gap between average deposit and lending rates, as well as interest rates applied to credit programmes and packages on their official websites.

The move is intended to improve transparency and help businesses and individuals access credit more easily.

The central bank emphasised that commercial banks must ensure liquidity and payment capacity while avoiding disruptions to interest rates

Credit should continue to be directed toward production and business activities, priority sectors and other drivers of economic growth, in line with Government policy while ensuring system safety.

For regional branches, the SBV instructed them to guide credit institutions in their areas to maintain stable interest rates and strictly comply with regulations on disclosing lending rate information.

They are also required to strengthen monitoring of deposit and lending rate developments, organise regular or ad hoc inspections of banks and bank branches regarding compliance with interest rate regulations, and promptly handle violations within their authority.

The central bank said it will closely monitor deposit and lending rates, as well as the disclosure of lending rates on banks’ websites, while stepping up inspections to ensure compliance with directives.

It also called on banks and regional SBV branches to strictly implement assigned tasks and  be held accountable for their implementation. 

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